BitMEX exchange founder: the Ethena token rate will grow by more than 800%

Earlier, Santiment noted the popularity of ENA on social networks

04.04.2024 - 13:05

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3 min

What’s new? The co-founder and former CEO of the crypto exchange BitMEX, Arthur Hayes, believes that the exchange rate of the native token of the Ethena (ENA) revenue protocol will soar by 809% from its current value of $1,1. In his X-account, he congratulated developer Ethena Labs on the token’s successful launch and predicted ENA’s growth to $10, without specifying a specific timeframe. Over the past 24 hours, the asset’s exchange rate has increased by 30% (data from the CoinGecko aggregator).

Source: Twitter.com

What else is known? Hayes is one of Ethena’s investors along with investment firms Franklin Templeton and Galaxy Digital, as well as venture capital firm Binance Labs, which currently operates independently of the Binance crypto exchange. Ethena is one of the winners of the sixth season of Binance’s incubation program.

Ethena is a decentralized sUSDe “synthetic dollar” protocol based on the Ethereum blockchain. sUSDe with a 35,4% APY model yield, is positioned as an “internet bond” that functions as a dollar-denominated savings instrument and provides holders with returns from ETH staking and transactions in the perpetual futures markets.

The launch of the native token ENA took place on April 2 at the end of a three-day farming program on the Binance Launchpool. At the same time, developer Ethena Labs distributed 750 million ENA or 5% of the asset’s total supply to participants in the Shard incentive program.